EUR/HKD 4H Chart: Rising Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
In the very beginning of February, the Euro bounced off a nine-week low of 10.4632 versus the Hong Kong Dollar and since then the pair has been mostly following the upside trend, being bounded by two gradually converging lines.
At the moment, EUR/HKD is vacillating not far away from the upper boundary of the 58-bar long rising wedge and may try to reach this level. The bullish view is further solidified by technical data; technical indicators are sending ‘buy' signals for short and long terms.
© Dukascopy Bank SA
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